Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-009 - INDUSTRIAL FIRE INSURANCE POLICIES
Section 482-1-009-.02 - Indemnity Limits

Universal Citation: AL Admin Code R 482-1-009-.02
Current through Register Vol. 42, No. 11, August 30, 2024

The face amount of the insurance provided by an industrial fire policy covering buildings and other structures or contents under the same ownership shall not exceed $7,500 for a weekly policy. For a monthly industrial fire policy, the maximum face amount covering a building or dwelling is $40,000 and for contents $20,000. This provision shall not prohibit a company from making application to write amounts of insurance in excess of $7,500 on a weekly mode equal to those on a monthly mode if such rating plan is approved by this Department. No insurer shall issue both a weekly and a monthly industrial fire policy covering the same subject of insurance.

Author: John Davis, Associate Counsel

Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-22-2.

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